Dow Jones Newswires: China’s economic activity slows down in October


China’s economic activity showed signs of slowing down in October, as renewed COVID-19 flare-ups and tightened government curbs to control the virus damped demand and production.

Retail sales, a key gauge of China’s domestic consumption, fell 0.5% from a year earlier, down from a 2.5% increase in September and well below the 0.7% growth expected by polled economists, according to data released Tuesday by the National Bureau of Statistics.

Industrial production rose 5% from a year earlier in October, also slowing from the 6.3% growth in September. Economists surveyed by The Wall Street Journal expected industrial production to have increased 4.9%.

China’s fixed-asset investment increased 5.8% in the January to October period from a year earlier, compared with a 5.9% growth in the first nine months of the year. Surveyed economists expected FAI growth to have held steady in October.

China’s urban surveyed unemployment rate held steady at 5.5% in October. The jobless rate for young workers aged 16 to 24 stood at 17.9% in October, the same as the prior month’s rate.

: Epic, Apple take App Store antitrust battle to federal appeals court

Previous article

Dow Jones Newswires: Credit Suisse strikes deal to sell securitized-products group to Apollo

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News